Sarasota, Fla.-based Dental Care Alliance has entered into an agreement with its existing lender group to reduce its debt by more than $1.1 billion and receive $95 million in new capital.
With its strengthened financial situation, Dental Care Alliance will improve practice support and meet its growth targets, according to an April 24 news release from the DSO.
The DSO’s network of clinics will continue to operate normally, and there will be no impact on day-to-day practice support.
In addition, the transaction extends DCA’s debt maturities to 2031. Dental Care Alliance plans to close the transaction in the second quarter.
“This transaction marks an important step forward for Dental Care Alliance and strengthens our position as one of the nation’s leading dental service organizations,” Larry Benz, CEO of Dental Care Alliance, said in the release. “By improving our financial flexibility, we are able to grow our business, provide best-in-class service to our clinicians, expand access for patients and continue to raise the bar for outstanding patient care.”
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